The Saskatchewan NDP says six years under Premier Scott Moe has almost doubled the provincial debt, in contrast to the overall surpluses of the previous two NDP premiers.NDP Leader Carla Beck and Finance Critic Trent Wotherspoon held a press conference at the Saskatchewan Legislature to highlight not only the deficits under Moe, but also those under Premier Brad Wall and Progressive Conservative Premier Grant Devine.Since Moe became premier in 2018, the debt has grown from $17.6 billion to $31.5 billion, an increase of almost $14 billion.Previous Sask Party premier Brad Wall grew the debt by $7.4 billion during his time as premier from 2007 to 2018. In his first year, the party paid off $2.6 billion or 40% of the debt. Lean years followed in the wake of the global economic collapse followed by a drop in oil prices.The chart even recalled he government of Grant Devine whose two terms as Progressive Conservative premier from 1982 to 1991 marked the only ones that party ever held power in the province. Under Devine, the debt grew $8.7 billion.The dollars in the chart were nominal, which means they are not inflation adjusted to reflect the contemporary value of dollars.Beck said the NDP had a different approach during the governments of Roy Romanow and Lorne Calvert from 1991 to 2007."If you look at in this province, which premiers have the history of good fiscal management and paying down debt?" Beck asked."You're going to see a record of past NDP governments of, you know, being very careful with the public dollar. I think that we understand how hard people work for their money."The provincial debt fell from $12.8 million to $11.1 million during Romanow's ten years in power which ended in 2001. Under the six years of Calvert's premiership, the debt was reduced by $856.8 million.The Fraser Institute points to the 1990s NDP governments as a lesson in fiscal recovery from which premiers could take lessons. Under Premier Roy Romanow, per-person program spending dropped from a peak of $9,098 to $6,963 in less than five years. Its debt-to-GDP ratio dropped from 37.2% in 1992-93 to 30.7% five years later. By 1995-96 Saskatchewan ran a $573 million surplus.By contrast in 1987, the provincial deficit was 6.8% of the economy, causing the province to have difficulty selling provincial bonds to finance the debt.In the past two weeks, the provincial government has announced education spending would rise by $180 million annually, for a 9% increase. A predetermined formula would see revenue sharing with municipalities rise to $340.2 million up from $297 million last year. Beck said she was "very much in favor of municipal revenue sharing," yet also stated "huge concern" with the Sask Party government in a "lack of willingness to work with stakeholders, with other levels of government" to ensure wise fiscal spending in health care and education.Beck said spending on contract nurses and municipal policing efforts were areas that deserved scrutiny. In the meantime, the government was focused on "shiny announcements," she claimed, while falling short on transparency.The province recently committed to a $1.15 billion irrigation project at Lake Diefenbaker after four years attempting in vain to get federal help on the proposal. The Western Standard asked Beck if the province should have waited to secure Ottawa's aid before going ahead."One of the most common comments that I hear in the province right now is we are tired of the finger-pointing, we're tired of the lack of transparency. We want grownups. We want decision-makers to work collaboratively to get the best result for the Saskatchewan people," Beck said."Fight when we need to, absolutely. Bring the arguments. But at the end of the day, it should be all of our business to ensure that we are getting to the table, getting deals that benefit people in this province, and that we have the kind of oversight the input and the the results that frankly Saskatchewan people deserve and they're not getting right now."The Saskatchewan budget will be released in two days. Last year's budget forecast a $1 billion surplus, but a freefall in potash revenues and massive crop insurance payouts due to drought left the last projection at a $250 million deficit.These circumstances left no concession from finance critic Wotherspoon."The Saskatchewan Party has an awful fiscal record of what they promise and then what they deliver. And Scott Moe has added more debt in any province in this any premier in this province's history," Wotherspoon said.Below: a chart from the Fraser Institute shows Saskatchewan provincial spending, inflation-adjusted, since 1965.
The Saskatchewan NDP says six years under Premier Scott Moe has almost doubled the provincial debt, in contrast to the overall surpluses of the previous two NDP premiers.NDP Leader Carla Beck and Finance Critic Trent Wotherspoon held a press conference at the Saskatchewan Legislature to highlight not only the deficits under Moe, but also those under Premier Brad Wall and Progressive Conservative Premier Grant Devine.Since Moe became premier in 2018, the debt has grown from $17.6 billion to $31.5 billion, an increase of almost $14 billion.Previous Sask Party premier Brad Wall grew the debt by $7.4 billion during his time as premier from 2007 to 2018. In his first year, the party paid off $2.6 billion or 40% of the debt. Lean years followed in the wake of the global economic collapse followed by a drop in oil prices.The chart even recalled he government of Grant Devine whose two terms as Progressive Conservative premier from 1982 to 1991 marked the only ones that party ever held power in the province. Under Devine, the debt grew $8.7 billion.The dollars in the chart were nominal, which means they are not inflation adjusted to reflect the contemporary value of dollars.Beck said the NDP had a different approach during the governments of Roy Romanow and Lorne Calvert from 1991 to 2007."If you look at in this province, which premiers have the history of good fiscal management and paying down debt?" Beck asked."You're going to see a record of past NDP governments of, you know, being very careful with the public dollar. I think that we understand how hard people work for their money."The provincial debt fell from $12.8 million to $11.1 million during Romanow's ten years in power which ended in 2001. Under the six years of Calvert's premiership, the debt was reduced by $856.8 million.The Fraser Institute points to the 1990s NDP governments as a lesson in fiscal recovery from which premiers could take lessons. Under Premier Roy Romanow, per-person program spending dropped from a peak of $9,098 to $6,963 in less than five years. Its debt-to-GDP ratio dropped from 37.2% in 1992-93 to 30.7% five years later. By 1995-96 Saskatchewan ran a $573 million surplus.By contrast in 1987, the provincial deficit was 6.8% of the economy, causing the province to have difficulty selling provincial bonds to finance the debt.In the past two weeks, the provincial government has announced education spending would rise by $180 million annually, for a 9% increase. A predetermined formula would see revenue sharing with municipalities rise to $340.2 million up from $297 million last year. Beck said she was "very much in favor of municipal revenue sharing," yet also stated "huge concern" with the Sask Party government in a "lack of willingness to work with stakeholders, with other levels of government" to ensure wise fiscal spending in health care and education.Beck said spending on contract nurses and municipal policing efforts were areas that deserved scrutiny. In the meantime, the government was focused on "shiny announcements," she claimed, while falling short on transparency.The province recently committed to a $1.15 billion irrigation project at Lake Diefenbaker after four years attempting in vain to get federal help on the proposal. The Western Standard asked Beck if the province should have waited to secure Ottawa's aid before going ahead."One of the most common comments that I hear in the province right now is we are tired of the finger-pointing, we're tired of the lack of transparency. We want grownups. We want decision-makers to work collaboratively to get the best result for the Saskatchewan people," Beck said."Fight when we need to, absolutely. Bring the arguments. But at the end of the day, it should be all of our business to ensure that we are getting to the table, getting deals that benefit people in this province, and that we have the kind of oversight the input and the the results that frankly Saskatchewan people deserve and they're not getting right now."The Saskatchewan budget will be released in two days. Last year's budget forecast a $1 billion surplus, but a freefall in potash revenues and massive crop insurance payouts due to drought left the last projection at a $250 million deficit.These circumstances left no concession from finance critic Wotherspoon."The Saskatchewan Party has an awful fiscal record of what they promise and then what they deliver. And Scott Moe has added more debt in any province in this any premier in this province's history," Wotherspoon said.Below: a chart from the Fraser Institute shows Saskatchewan provincial spending, inflation-adjusted, since 1965.
